Beek/Bork/Bolt

informationarbitrage:

…There is one other dimension that hastened LTCM’s decline and why the JP Morgan story isn’t close to being done - market knowledge. Once the market knew that LTCM was in trouble, the leaned hard against their positions until they cracked. Now LTCM’s capital base is a tiny fraction of JP Morgan’s, but what if $2 billion turned into $5 billion? Or $10 billion? Every sophisticated market participant is causing JP Morgan maximum pain, and it is simply a question of high-stakes poker. But let me assure you, JP Morgan is not holding many cards right now. 

(via jonathanmarcus)

Frightening but fascinating.

The fact that I am not a psychopath will keep me from posting this to facebook amidst all the baby pics currently clogging my newsfeed. 

Great article by the Globe & Mail on how price, above all other factors, is what leads to environmental reform.

The author cites Denmark as the test case. While wind makes up 20% of total energy, the rest comes from coal. The real environmental savings have come from reduced consumption, due to high prices. When a car is taxed at 180%, you buy a smaller car, or use a bike. When energy costs 3 times as much as we pay, you put on a sweater. This has allowed DK to reduce their carbon dioxide emissions by 13%, while ours has increased by 30%.

The solution should be simple, but given that last years provincial election platform featured high energy prices, and that Toronto is actually removing bike lanes, I think the chance of any real reform is slim.

Though I did just get a notice saying my windows would be resealed, patio door replaced and that low flow shower heads and energy efficient light bulbs would be put in- so maybe change is coming.